Treasurer of the State of North Carolina Has $30.86 Million Position in Arthur J. Gallagher & Co. (NYSE:AJG)

Treasurer of the State of North Carolina boosted its position in Arthur J. Gallagher & Co. (NYSE:AJG) by 15.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 108,720 shares of the financial services provider’s stock after purchasing an additional 14,390 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Arthur J. Gallagher & Co. were worth $30,860,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Catalina Capital Group LLC lifted its position in shares of Arthur J. Gallagher & Co. by 1.0% in the fourth quarter. Catalina Capital Group LLC now owns 3,380 shares of the financial services provider’s stock worth $959,000 after purchasing an additional 35 shares in the last quarter. Greenleaf Trust increased its stake in Arthur J. Gallagher & Co. by 1.1% in the 4th quarter. Greenleaf Trust now owns 3,310 shares of the financial services provider’s stock valued at $940,000 after buying an additional 36 shares during the last quarter. HBK Sorce Advisory LLC lifted its position in Arthur J. Gallagher & Co. by 3.2% during the 4th quarter. HBK Sorce Advisory LLC now owns 1,173 shares of the financial services provider’s stock worth $333,000 after buying an additional 36 shares in the last quarter. Brendel Financial Advisors LLC grew its holdings in shares of Arthur J. Gallagher & Co. by 0.5% in the 4th quarter. Brendel Financial Advisors LLC now owns 7,237 shares of the financial services provider’s stock valued at $2,054,000 after acquiring an additional 38 shares in the last quarter. Finally, Tucker Asset Management LLC increased its position in shares of Arthur J. Gallagher & Co. by 3.0% in the fourth quarter. Tucker Asset Management LLC now owns 1,419 shares of the financial services provider’s stock valued at $403,000 after acquiring an additional 41 shares during the last quarter. Institutional investors and hedge funds own 85.53% of the company’s stock.

Arthur J. Gallagher & Co. Stock Up 0.5 %

NYSE:AJG opened at $325.37 on Friday. Arthur J. Gallagher & Co. has a one year low of $230.08 and a one year high of $350.70. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.51 and a quick ratio of 1.51. The company has a market cap of $83.21 billion, a PE ratio of 49.90 and a beta of 0.64. The firm’s 50 day simple moving average is $328.63 and its 200 day simple moving average is $303.78.

Arthur J. Gallagher & Co. (NYSE:AJG) last posted its quarterly earnings data on Thursday, January 30th. The financial services provider reported $2.13 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.10. Arthur J. Gallagher & Co. had a return on equity of 16.47% and a net margin of 12.70%. On average, research analysts anticipate that Arthur J. Gallagher & Co. will post 11.54 earnings per share for the current year.

Arthur J. Gallagher & Co. Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were issued a $0.65 dividend. This is an increase from Arthur J. Gallagher & Co.’s previous quarterly dividend of $0.60. This represents a $2.60 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date was Friday, March 7th. Arthur J. Gallagher & Co.’s payout ratio is presently 39.88%.

Insider Activity

In other Arthur J. Gallagher & Co. news, CAO Richard C. Cary sold 10,000 shares of Arthur J. Gallagher & Co. stock in a transaction on Monday, February 10th. The shares were sold at an average price of $322.99, for a total value of $3,229,900.00. Following the completion of the sale, the chief accounting officer now directly owns 69,774 shares of the company’s stock, valued at approximately $22,536,304.26. The trade was a 12.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David S. Johnson sold 325 shares of the stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $322.06, for a total transaction of $104,669.50. Following the transaction, the director now directly owns 44,783 shares in the company, valued at $14,422,812.98. This trade represents a 0.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,235 shares of company stock worth $7,478,224 in the last quarter. 1.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AJG. Royal Bank of Canada increased their price target on Arthur J. Gallagher & Co. from $320.00 to $340.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Wells Fargo & Company boosted their target price on shares of Arthur J. Gallagher & Co. from $370.00 to $372.00 and gave the stock an “overweight” rating in a report on Thursday. Keefe, Bruyette & Woods increased their price target on shares of Arthur J. Gallagher & Co. from $308.00 to $314.00 and gave the company a “market perform” rating in a research note on Friday, March 21st. Piper Sandler raised shares of Arthur J. Gallagher & Co. from a “neutral” rating to an “overweight” rating and upped their target price for the company from $285.00 to $315.00 in a report on Wednesday, January 8th. Finally, Truist Financial lifted their price target on Arthur J. Gallagher & Co. from $275.00 to $290.00 and gave the stock a “hold” rating in a report on Friday, January 31st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Arthur J. Gallagher & Co. has a consensus rating of “Hold” and a consensus target price of $313.33.

Arthur J. Gallagher & Co. Company Profile

Arthur J. Gallagher & Co engages in the provision of insurance brokerage, reinsurance brokerage, consulting, and third-party claims settlement and administration services. It operates through the following segments: Brokerage, Risk Management, and Corporate. The Brokerage segment consists of retail and wholesale insurance brokerage operations.